The False Promise of Green Energy (new Cato book packs a punch)
By administrator -- February 25, 2011By Andrew P. Morriss, William T. Bogart, Roger E. Meiners, Andrew D. Dorchak
“This new work [289 pages] offers an outstanding, nearly unprecedented evaluation of claims by green energy and green jobs proponents that we can improve the economy and the environment, almost risk free, by spending billions of dollars on what are ultimately false promises.”
Energy affects everything we do. The late Julian Simon coined the term “the master resource” to describe energy’s crucial role in our economy. Nearly half of energy we use is used indirectly in the production of food, medicines, and consumer goods.
This is important because anything that increases the price of energy will also increase the prices of goods that use energy indirectly. Thus, if energy costs were to increase because of forced use of more expensive renewable energy, not only would the price of electricity rise, but so would the price of food, medicines, and consumer goods, such as cotton t-shirts.…
Continue ReadingUnconventional Gas Riles and Refigures the World Energy Market: The Oil Market (Part III)
By Donald Hertzmark -- February 24, 2011Author’s note: No, I have not been in a cave for the past two weeks. The impacts of unconventional gas on energy markets will be measured in months and years, not in days and weeks. There is essentially nothing that current unconventional gas production can do to moderate crisis-driven escalation of oil prices and oil-linked LNG prices in the next few weeks.
In Part I and Part II of this series, the impacts of unconventional gas discoveries in the U.S., Australia, Canada and elsewhere were explored. Gas-to-gas competition was seen as a powerful force for price moderation.
U.S. shale gas discoveries and production from coal bed methane (CBM) have already provided great benefits for energy consumers in the Atlantic Basin. Gas-to-gas competition – shale v. LNG – has led to interesting market outcomes and investments. …
Continue ReadingConflict Resolution in Climate Science: Should the IPCC Be Disbanded? (Some thoughts from an outsider)
By Ross McKitrick -- February 23, 2011Editor Note: This paper was prepared for the “Reconciliation in the Climate Change Debate” workshop held by the Institute for the Protection and Security of the Citizen, European Commission in Lisbon, Portugal (January 26—28, 2011).
I am an “outsider” to the field of climatology in two respects: by professional training I am an economist, and as regards my research I am in dispute with proponents of some elements of what is commonly called the “consensus” scientific position.1
With regards to my economics background, I note that economists routinely undertake scientific research on matters of acute political controversy, yet the field remains generally congenial and productive; whereas the policy controversies connected to climate research have resulted in seriously disrupted and damaged collegiality in climatology. Why the difference between the two fields? I suggest attention be paid to two reasons: the habit on the part of climate and meteorological societies to issue “expert statements” on behalf of members, and the role of the IPCC.…
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